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Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

John Maynard Keynes

When my information changes, I alter my conclusions. What do you do, sir?
JOHN MAYNARD KEYNES

Change Conclusion Information Yourself
I do not know which makes a man more conservative – to know nothing but the present, or nothing but the past.
JOHN MAYNARD KEYNES

Conservatism Known Man Myself Past Present
I conceive, therefore, that a somewhat comprehensive socialisation of investment will prove the means of securing an approximation to full employment.
JOHN MAYNARD KEYNES

Employment Evidence Investment Myself Social
Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
JOHN MAYNARD KEYNES

Convention Failure Teaching Wisdom World
I work for a Government I despise for ends I think criminal.
JOHN MAYNARD KEYNES

Crime End Government Myself Work
But my lord, when we addressed this issue a few years ago, didn’t you argue the other side?” He said, “That’s true, but when I get more evidence I sometimes change my mind. What do you do?
JOHN MAYNARD KEYNES

Address Change Evidence Mindset
It has been pointed out already that no knowledge of probabilities, less in degree than certainty, helps us to know what conclusions are true, and that there is no direct relation between the truth of a proposition and its probability. Probability begins and ends with probability.
JOHN MAYNARD KEYNES

Direct Knowledge Point Probability True
It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.
JOHN MAYNARD KEYNES

Attachment Certain Expectation Fools
Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement.
JOHN MAYNARD KEYNES

Agreement Move Philosophy Virtual
The difficulty lies, not in the new ideas, but in escaping from the old ones.
JOHN MAYNARD KEYNES

Deep Difficult Effort Escape Ideas Inspirational Lying Old
The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.
JOHN MAYNARD KEYNES

Benefit Capital Division Greatness Kind Man Society War Wealth
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
JOHN MAYNARD KEYNES

Believe Fair Investment Management Myself Right Time
The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.
JOHN MAYNARD KEYNES

Business Contribute Himself Man Society Tolerance
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
JOHN MAYNARD KEYNES

Error Excessive Ideas National Power
The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes.
JOHN MAYNARD KEYNES

Distribution Economy Income Mistake Outstanding Wealth
The boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES

Right Time Treasure

Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

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Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

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